Eli Lilly "buy"

12/02/05 - Banc of America

NEW YORK, December 2 (newratings.com) - Analyst Chris Schott of Banc of America Securities reiterates his "buy" rating on Eli Lilly (LLY). The target price is set to $63.

In a research note published yesterday, the analyst mentions that the company is likely to post consistent sales growth and margin expansion, driven by robust pipeline and low exposure to patent expirations. The analyst expects Eli Lilly to provide updates on its Zyprexa, Cymbalta and Alimta drugs, and discuss the progress on prasugrel’s phase III programme. The company is expected to guide to 10% and 8% EPS and revenue growth, respectively, for 2006, Banc of America Securities adds.